Posted by Dane Arthur - LakePlace.com on Friday, August 22nd, 2025 1:02pm.
Lake Minnetonka's real estate scene is the epitome of upscale, lakeside living. Spanning roughly 14,528 acres with 125 miles of shoreline, this sprawling lake is Minnesota's ninth-largest and boasts a wildly irregular shape, dotted with kettle lakes, channels, and islands. It's also one of the Twin Cities' most luxurious and coveted property markets—attracting everyone from weekenders to CEOs and celebrities.
As of August 2025, there are about 183 active waterfront listings, with an average asking price exceeding $3.37 million and around $620 per square foot. At the extreme end lies an extraordinary off-market estate listed at $55 million, featuring over 8 acres of grounds, a 29,000 sq ft main house, spa, wine cave, movie theater, bowling lanes, multiple docks, and more—potentially setting a new state record of luxury real estate.
Lake Minnetonka touches fourteen communities, each with its own charm and real estate character:
Diversity of offerings: From grand estates and gated waterfront homes to quaint lake cottages and modern condos, the area caters to a wide spectrum of tastes and budgets.
Lifestyle allure: Communities feature walkable towns (like Excelsior and Wayzata), forest privacy (Orono, Greenwood, Woodland), or small-town charm (Spring Park, Mound).
Proximity to Minneapolis: Most lake towns sit within a 40-minute drive to downtown Minneapolis, offering luxury without sacrificing convenience.
If your ideal is vibrant small-town life, explore homes in Excelsior or Wayzata—bustling with shops, eateries, and community events.
Looking for refined solitude? Consider Orono, Greenwood, or Woodland—where deep water, wooded privacy, and gracious estates prevail.
Want an intimate, high-end village vibe? Step into Minnetonka Beach or Tonka Bay, where low population and elite real estate converge.
For balance and accessibility, Minnetonka and Mound offer a solid mix of shoreline variety and suburban facilities.
Lake Minnetonka stands as a beacon in Minnesota real estate--combining historical prestige, rich community narratives, and modern luxury. Whether you're drawn to the grandeur of million-dollar estates or the nostalgia of cozy cottages, the lake offers a perfect spot for anyone craving lakeside living. Each city along its shores presents a distinct invitation--are you ready to answer?
Let me know if you'd like to explore specific towns, get pricing snapshots, or find comparable listings next!
By David Gooden - Lake Minnetonka Realtor & Co-Founder of LakePlace.com